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Great post @RS2002. Welcome back. This basically covers it all up to where we are today.
Looks likely Biden will win the US Election with a clear majority (as Georgia and Pennsylvania are leaning Democrat due to the fact that the majority of uncounted postal ballots are understood to be Democratic ones.
Biden, like him or loath him, with be able to reach across the aisle and get a decent stimulus package agreed, together with a healthy Trillion dollar US infrastructure deal which both Obama and Trump failed to do. That will boost the US economy, and what's good for them is invariably good for us.
@Silver420 and @Sammy18 please see Page 10 of the interim results PDF report off the company's website, to see where the media quotes regarding the 12 months of liquidity (from September 2020 )at the current cash burn rates were detailed. These figures in which were gone over by Price Waterhouse Cooper. Obviously it goes without saying that Cine's position has changed since the report was released on 24th September 2020, as we closed temporarily a month after this report.
https://www.cineworldplc.com/sites/cineworld-plc/files/reports-presentation/2020/interim-results-september-2020-v2.pdf
Good Morning @TheDove,
You are 100% correct in your assertion that you should send your complaint in to the London Stock Exchange. It costs nothing to us, but the more complaints the more interest the LSE will take in advancing their investigation into the complaint. As a shareholder you are fully within your rights to complain about a company who have been 'benefitting' off the share price without adhering to the rules of the LSE. You are more than welcome to use/amend my template if you wish.
If other shareholder wish to do so, here's a copy of my brief email to the LSE, which you're more than welcome to copy and paste adding your name at the bottom of the email..............................................
Dear Sirs,
I wish to formally file a complain against Athanor Capital LP, 888 Seventh Avenue, 21st Floor, New York, NY 10019 for failing to properly disclose a 0.55% short position to the FCA, that they have held in Cineworld (CINE) a FTSE 250 company, since 5th August 2020. Athanor only saw fit to disclose said position on 3rd November 2020 which breaches FCA Short selling disclosure rules.
I thank you kindly for your future investigation into this breach of the rules.
Kind Regards,
Your name
That's all good guys. Teamwork:)
Great work @NoFear and @stevek1972.
Have just emailed the LSE as requested.
If other shareholder wish to do so, here's a copy of my brief email to the LSE, which you're more than welcome to copy and paste adding your name at the bottom of the email..............................................
Dear Sirs,
I wish to formally file a complain against Athanor Capital LP, 888 Seventh Avenue, 21st Floor, New York, NY 10019 for failing to properly disclose a 0.55% short position to the FCA, that they have held in Cineworld (CINE) a FTSE 250 company, since 5th August 2020. Athanor only saw fit to disclose said position on 3rd November 2020 which breaches FCA Short selling disclosure rules.
Thanks you kindly for your future investigation into this breach of the rules.
Kind Regards,
Your name
Spot on @Saihaj. The only difference i have is the SP will hit 60p briefly after the RNS comes out with IMO positive news in respect of the debt refinancing/debt waivers renegotiation.
My reasons, are two fold. Firstly FOMO, Fear of missing out, will kick in for the investors, institutional and private, who have been waiting on the sidelines watching CINE's position over the last few months waiting until they have an absolute cast iron guarantee (debt refinancing) that CINE's future is secure. Secondly, one all long term CINE holders will cherish, the short squeeze, where shorters will be forced to sell their shares as the SP fairly rockets upwards, for fear of being left with massive negative positions that they cannot honour.
I am fully in agreement with you that following this, when we reopen to the WW1984 or Bond, be it December or March, and the tills are ringing all over the world, the SP will again fairly rocket up to 100p, and beyond as the world gets back to normal and the months pass.
Good times to look forward to for CINE, her employees, and long term investors.
Interesting times
Wow, four sensible, considered posts in a row! That's how the site should be. Agreed with points raised by @Prayfor, @Moola and @Proanaylst.
To any newcomers who haven't been following Cineworld for the past 4 or 5 months or so, this is all about the Debt waiver renegotiations at the moment. This should happen with hopefully positive news within the next 4 weeks. This would first and foremost ensure Cineworld's immediate financial security for the next 12 months at least, allowing us to prosper once the virus is brought (even more) under control, and the world economies including Cinemas/Movie Theaters reopen to a wonderful list of top blockbuster content for 2021 and onwards when the world will be much more normal than it has been this year. Good luck all Long term investors.
Shorterboy, I’m going to give you some Professional advise, all your pent up anger, frustration, and bitterness are all key signs of a potential suicide victim. Not sure if you have anyone in life who cares about you, but if not, I’d recommend you call The Samaritans.
Good points @broker1. Thanks. I might add the lenders will also be waiting to see who wins the US election today (even if a result might take some days or even weeks to ascertain unless one of the candidates wins a substantial amount of electoral college votes early on).
With second national lockdowns taking place now all over the world, as has been pointed out before many, many large companies are going to be placed in extremely perilous positions unless lenders help them out short term. Lets hope and trust that CINE's lender see sense. Good luck.
Good points raised again @Broker1. Totally valid points too from some of the more astute posters, Ian, Funinvestor, Moola, and Proanaylst. I am also a long term holder with a 6 figure share position, that i have over the last month averaged down into the mid 20's. I'm in it for the long run buoyed also by the fact that the large institutional share holders are still in.
I want to run something by you guys that relates directly to Cineworld's current predicament, and the ongoing Debt Covenant Waiver renegotiations/refinancing talks with the lenders.
On 4th December 2020, the next FTSE quarterly review takes place. The last one was on the 4th September when the SP was at 58p, our market capital was then well over £750m. At present we're at 27.75p, making our market capital £377m. This places us third from bottom in the FTSE 250, deep in the relegation zone at in were.
Now, i know at present we are in the hands of the Institutional Traders, and MM's who can move this share up and down, as with many other volatile ones, as they see fit, in order to make their firms money. However, I also know that the slightest bit of good news vis a vis the refinancing will boost our SP significantly and instantly up over the 37p SP that equates to a market capital of £500m , and keeps us safe, but it is interesting to note that the SP must be at and preferably over the mid 30's by the beginning of 4th December. This, in my mind's eye, makes it even more likely that Mooky and Nisan (the CFO) will be racing to bring positive news regarding the refinancing to the market by the end of November.
It would be interesting to hear you views. Thanks
AMC, our biggest rival, released their 2020 q3 results this afternoon at the close of trading. They’re not pretty, like ours weren’t in September. AMC s share price has lost 50% in the last month.
On a positive note Cineworld finished up 4% at the close of US trading today at 36 cents.
https://www.google.co.uk/amp/s/variety.com/2020/film/news/amc-theatres-earnings-coronavirus-losses-1234821785/amp/
This is an interesting quandary for Warner Bros. They originally had the release of WW1984 set for June 2020. Obviously that wasn't going to happen. This got moved to August 2020. That wasn't go to happen, as the US wasn't open, and neither were half the world's cinemas. It got moved to October, and again got cancelled, and now its been slated for a 25th December release.
On the minus side and let's be honest Covid will still be here (all over the western world) and frankly speaking, infections and death rates per 100,000 people will definitely be up, not helped by the fact its deep into Winter.
On the plus side for Warner Bros, releasing WW 1984 in December would give it three whole months in movie theaters as the biggest box office draw until Bond arrives at the beginning of April 21. This is a similar time that Warner Bros other Tentpole movie Tenet (released August 26th) had in more uncertain times, to make it's money. Remember, WW1984 will appeal to a much considerably wider, and younger audience than Tenet. I know Warner would hope to get $1 billion in normal times for WW1984, but as the CEO of Warner, Ann Sarnoff said last week in Variety Magazine, these aren't normal times and that 'box office sale post pandemic are a marathon versus a sprint'. I believe that showing WW1984 in movie theaters worldwide for three months up to the release of Bond in April, they'd achieve $500m + , which isn't terrible in a Pandemic.
Fingers crossed for the Xmas release date for WW1984, because it'll convince the studios to release some of their less high budget movies for theatrical release at the same time.
Warner Bros got the ball rolling with Tenet, for them to continue with WW1984 would be outstanding.
Great responses @IanHarding, @UKSL and @Proaanalyst.
These folks that think this SP will falls to 19p are ‘nuts’!
Yes, tmrw am there will be a drop, by panicking Pi’s, then it’ll recover in the afternoon. I’d be surprised if we see more than a 8% overall drop at the close tmrw. Remember that’s 8% from the low 28p, we’re presently at, so we go down to 25p.
As the above canny and informed posters have mentioned Cine’s temporarily closed.
Beside on one of my newsfeeds, The Independent newspaper, at 3pm on Friday, reported the leaked probability of a month Long lockdown starting this coming week. The market knew, or at least had a very good inclination this was going to happen on Friday.
Other shares will get hit relatively hard tmrw, not us. At present we move where the institutional traders and MM’s want to move up, up or down without rhyme or reason. We will do so until the positive refinancing news is released. Good luck LT Cine holders.
Don’t worry @Etonrifles. In 4-6 months your whole portfolio will be showing green/blue. Cine will change from red much sooner than that on positive news of the Waiver renegotiation, the magical vaccine and the reopening of the Cinemas coupled with a list of awesome content.
It’s almost like we’ve got a crystal ball able to see 6 months into the future, when all will be fine, or at least a hell of a lot finer than it is now! Good luck
Great prediction, who ever called that. 16% up over the last two days from the low, low position we were in on Wednesday makes for the start of a good weekend. Be nice to get us back to the thirties (albeit with some rollercoaster games form the institutional day traders and MM's) and position ourselves nicely in time for the refinancing RNS due in the next several weeks.
Biden, Trump. I don't believe either make any discernable difference to Cineworld/Regal. Now Waiver and Vaccine. They do!
True @Mrzeroh. The Dow’s down 350 points already. They’re not going to get a stimulus package, and the US election’s (in all likelihood) Going being to be chaotic, with the result v unlikely to be called on the night of the 3rd Nov, and probably not for a week or so with all the mail in ballots. It’s surely going to be turmoil, as we know markets hate uncertainty.
On the plus side, we’re up nearly 8% today, which is better than I thought we’d finish at. Good luck.
Insi,
I want to club together some of my friends to get you a free session with a psychotherapist, to try and work out what's going on in that little head of yours.
You're so angry (seemingly with the world).
I believe that with a little bit of help, and some financial coaching, you could come out of your angry, bitter shell, and be a productive member of society.
It definitely doesn't help that you're up at 5.30am posting on this bb, when all the good members are asleep.
You can share with us, it's a safe space, nothing to fear here.
Smile, and the world smiles with you, cry and you cry alone (at 5.30am).
Thanks for that @Ianharding. That was the part i couldn't work out on the AMC v Cineworld SP's. I didn't factor in this is the one of the most shorted stocks on the FTSE. I remember the Cine board members stating how they viewed people shorting the share with disdain. No doubt they will stick it to the shorters when, in all likelihood, the refinancing is announced in the next few weeks or so. Thanks
Exactly right @Latpulldown. This will bob around between 23p and 30 odd pence until the debt convent waivers are agreed in the next few weeks, after which it will fly up, then when WW1984 and the cinema's are reopened after which it will rise, and then when the vaccine is released, when it will fly again.
@mrzeroh we're heading back to a similar place that we were at on Thursday last week before the sky 'news' story. No good news took us up last week, the same as is happening now.
Dont worry @wackwack, this will fly in the not too distant future:)
Interesting to note AMC Entertainment, the No1 Cinema chain in the world in front of Cineworld, are releasing their Q3 figures on Monday 2nd November after close of trading. They're not going to be pretty, that's for sure.
It's interesting, because the parallels between our two companies are relatively similar, albeit we are in a stronger financial position than AMC. We have less debt, and have closed our cinemas temporarily, whereas AMC have remained open, since their re-opening in September this year.
The travesty to me is in the SP's. AMC were trading at around $7 at the beginning of February 2020. Their SP dropped 65% down to $2.50 in March after Covid hit America. However, and incredibly, it rebounded to $7 (full pre pandemic levels) in September 2020 when Tenet opened in the US. Subsequently it has retraced back to $2.52 (still being 35%) of it's pre pandemic level. This with the spectre of Chapter 11 filing handing in the air.
Compare this to Cineworld, trading at 180p at the beginning of February 2020, we plummeted down to 21p when Covid hit the UK in March. That's an astonishing 88% drop in the SP! We've had a few ups, with the US ruling that Studios could buy Movie Theater chains, the renegotiating of the Debt Covenant waiver due in June 20, and Jhango's unfounded takeover pushing the SP up , but even today, we are still trading at only 15% of our pre-Covid Feb 2020 SP. It's baffling to me, even when Tenet was released in August, and there was a full line up of movies, with more and more Cine/Regal cinema's opening the SP only hovered between 40-50p.
All i know is, when the Debt Covenant waivers are agreed in the next few weeks, and when Mooky opens the Cinema's to Wonderwoman 1984, coupled with a Vaccine release at the end of year or beginning of 2021, we are going to absolutely fly like a Space X rocket from SP price!
Ok, i'll bite.
Shorter fixes up old computers, and every now an then he get to upgrade to a old unwanted laptop. He's his current pride and joy is a 2006 Amstrad 10" laptop. Some of the keys don't function, which is why his spelling is so bad.
Insi. He works at my local scrap yard as the night watchman. They put him in a little 2 x 2 box, for the 12 hour 7pm to 7am shift. That's how he can manage to text at all hours of the night. When he's not on this bb, and not losing money on his meagre shareholdings, he's furiously 'researching' Qanon theories on Facebook to enhance his 'knowledge'.